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GRTU regrettably announces that business owners started losing their license - the result of a half-baked Penalty Point System

GRTU Malta Chamber of SMEs once again states that it has always agreed with the principles behind the penalty point system and that greater care and safety on the road was also in the interest of business, GRTU expresses grave concern on its implementation.

The penalty point system has turned out to be yet another piece of blinkered legislation that places a disproportionate burden on business owners in the most unjust manner. The rash law has unfortunately generated more than a few teething problems and, as GRTU had warned, led to serious consequences.

Paul Abela confirmed as GRTU President

GRTU has today held its first Executive Council meeting during which Paul Abela has been confirmed as GRTU President for the year 2018.The Executive Council also elected GRTU’s 6 Vice Presidents as follows:

Whilst thanking Mr Chris Vassallo and Mr Emmanuel Azzopardi for their valuable service over the years, the GRTU Council this year welcomes the inclusion of Ms Marthese Micallef - owner of Sparkle Image; and Mr Dino Fino – an importer and retailer of home and contract furniture.

Last Tuesday 30th January the GRTU Malta Chamber of SMEs successfully held its Annual General Meeting during which Paul Abela made an introduction of what 2017 meant for GRTU. He said that although a number of challenging issues cropped up, GRTU successfully managed to work with the Government and all stakeholders in order to find amicable solutions that safeguard the interests of small businesses. In her presentation of the Annual Report GRTU CEO Abigail Mamo presented an overview of the work undertaken by GRTU during 2017.

Amongst other things, the CEO highlighted that following liberalisation of shop opening hours, GRTU further convinced the authorities to remove a €700 fee payable each time a business chose to open seven days a week. On the proposal and insistence of the GRTU, the CEO explained that local enforcement officers would no longer be privately employed, in order to limit the direct interest in handing out contraventions and a warning ticket system was implemented. Furthermore, the GRTU proposal to set up a Malta Development Bank saw fruition, the process to employ non-EU nationals was simplified and a scanner was moved down to the area where imports by sea enter the market in the grand harbour to help in clamping down on unfair competition.

Nominations open for the 2018 Malta EY Entrepreneur Of The Year™

Nominations for this year’s Malta EY Entrepreneur Of The Year™ are now open until the 9th February 2018. The competition is open to entrepreneurs from all sectors, established and new. To be eligible, nominees must either be Maltese or have been operating a company based in Malta for at least two years. Anyone, including employees, company advisors and financiers can nominate an entrepreneur, with the latter's consent. Many of the nominations come from the entrepreneurs themselves. Just being nominated can elevate a company’s profile through exposure to other entrepreneurs, sponsors, judges and guests. The winners also benefit from significant international visibility which could drive the next phase of their company’s growth.

An overall positive year for business; Labour shortage remains an unresolved concern

GRTU Malta Chamber of SMEs’ end of year Business Performance Survey indicates a positive year in general. Three out of every four respondents did not report a decrease in their turnover. Nontheless, Labour shortage was once again found to be the topmost concern, with the direct result of slowing down business growth, fuelling higher labour costs and leading to high levels of staff turnover.

32% reported higher sales during the end of year peak season while 29% had lower sales when compared to the same period in the previous year.Black Friday was reported to have had limited positive or negative effect on the festive season as a whole with only 17% reporting increased turnover because of this phenomenon. 20%, on the other hand, felt that because of Black Friday their total sales during the festive season decreased.